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EUR Trades to 2014 High

The EUR rose to the highest level this year as inflation in the Euro-zone exceeded expectations. The number dampened expectations the ECB will add monetary stimulus next week. Chinese Yuan reached a 10 month low on expectation the government will broaden the trading ban. The GBP is higher as UK house prices continue rise and consumer confidence held steady, adding evidence of strong UK growth. Over all, the USD is weaker as US annualized GDP grew at 2.4% compared to 3.2% last month. Market was expecting a number above 2.5%. The exception is against the Australian Dollar. The AUD is weaker as capital spending fell 5.2%, the biggest decline since 2009.

Today's Events• U.S. Consumer Sentiment was revised to 81.6 (median 81.2) from 81.2 in the first release and January. • U.S. Q4 GDP growth was revised to 2.4% (median 2.5%) from 3.2% in the first release and 4.1% in Q3. • Canada GDP grew at a 2.9% pace in Q4, better than expected (median +2.5%) following the 2.7% rate in Q3. • EUR surged on the above forecast Eurozone HICP flash estimate for February, which came in at 0.8% y/y. Markets had expected a 0.7% y/y. At 0.8% CPI remains unchanged from January. • Canada's GDP growth was negatively impacted by the weather in December, but strong activity in October and November.

Foreign exchange transactions can be highly risky, and losses may occur in short periods of time if there is an adverse movement of exchange rates. Exchange rates can be highly volatile and are impacted by numerous economic, political and social factors, as well as supply and demand and governmental intervention, control and adjustments. Investments in financial instruments carry significant risk, including the possible loss of the principal amount invested. Before entering any foreign exchange transaction, you should obtain advice from your own tax, financial, legal and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources. Opinions expressed are our opinions as of the date of this content only. The material is based upon information which we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such.

The EUR rose to the highest level this year as inflation in the Euro-zone exceeded expectations. The number dampened expectations the ECB will add monetary stimulus next week. Chinese Yuan reached a 10 month low on expectation the government will broaden the trading ban. The GBP is higher as UK house prices continue rise and consumer confidence held steady, adding evidence of strong UK growth. Over all, the USD is weaker as US annualized GDP grew at 2.4% compared to 3.2% last month. Market was expecting a number above 2.5%. The exception is against the Australian Dollar. The AUD is weaker as capital spending fell 5.2%, the biggest decline since 2009.

Today's Events• U.S. Consumer Sentiment was revised to 81.6 (median 81.2) from 81.2 in the first release and January. • U.S. Q4 GDP growth was revised to 2.4% (median 2.5%) from 3.2% in the first release and 4.1% in Q3. • Canada GDP grew at a 2.9% pace in Q4, better than expected (median +2.5%) following the 2.7% rate in Q3. • EUR surged on the above forecast Eurozone HICP flash estimate for February, which came in at 0.8% y/y. Markets had expected a 0.7% y/y. At 0.8% CPI remains unchanged from January. • Canada's GDP growth was negatively impacted by the weather in December, but strong activity in October and November.

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